Entrepreneur Essay

1298 Words6 Pages
1. Assume you are writing an article about what it’s really like to be an entrepreneur. Choose a specific entrepreneur and provide questions you would ask him or her as a basis for your article. I think that I would ask this friend that I know that just started her own business. Where did you get the idea for your business, and what is it? What experience did you have in the field? What does it take, personally? How much money did you need to start? ($100, $1k, $5K, $10K, $100K....) Do you have any partners, help, etc, or was it all you? What problems did you initially encounter, and how did you overcome them? 2. Using the concepts in the chapter, discuss the various types of organizational structures, i.e., functional, divisional (product, customer and geographic), and matrix. Be specific in your definitions and explanations, and include advantages and disadvantages of each. The functional organization, jobs are specialized and grouped according to business functions and the skills they require: production, marketing, human resources, research and development, finance, accounting, and so forth, common in both large and small organizations. Advantages would be like economies of scale can be realized, monitoring of the environment is more effective, performance standards are better maintained, people have greater opportunity for specialized training and in depth skill development, technical specialists are relatively free of administrative work, decision making and lines of communication are simple and clearly understood. Disadvantages people may care more about their own function than about the company as a whole, and their attention to functional tasks may make them lose focus on over-all product quality and customer satisfaction. Managers develop functional expertise but do not acquire knowledge of the other areas of the business; they become specialists

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